Games Industry Rebounding Despite Economy

The video games industry has been having a very rough time with the recent economy, especially in the United States where makers of new video games now must struggle to compete with companies that trade in used games on the secondary market, a source of games consumers have been quick to embrace in record numbers. With the economy of California already hit hard, man in Los Angeles are worried that the market is tanking for typical conventions. Even the Electronic Entertainment Expo, known as E3, is not doing quite the same as it used to do in sheer numbers. E3 attendance was once numbering over 60,000 attendees, but recently the numbers are down to just a little over 5,000 – a very serious drop in such a short amount of time. While the industry has long told the media that it is recession proof, these figures appear to point in the opposite direction, making it appear as though consumers are not as interested in traditional console games now that mobile and social networking games are free and flooding the markets with many options for casual players. That was the state of things up until this year, when things are looking up once again.

In fact, more than 40,000 attended this year’s E3 and the 3 day event appears to signal big changes. Celebrities like Mickey Rourke, Jay Z, Ringo Starr, Paul McCartney, Eminem, Stephen Spielberg and Jay Z were all present to show their support for the industry, making a bold stand in a down economy where many worried games might tank.

About the Author